Member Info for Malpenn

Https://uk.advfn.com/stock-market/london/sunda-energy-SNDA/share-news/Sunda-Energy-PLC-Letter-of-Intent-for-rig-to-drill-Chuditch-well/95056347

Here we go !!

If you meant a placing.. then here you go !!

Canmax would never have voted for this resolution at the price they would have to pay.

Now they can take part in an open offer at the same price as everyone else.

Canmax I believe hold 13% of PREM... Along side Canmax I think there are many other shareholders demanding his exit from PREM.

Sure he will get the vote if he agrees to leave

He will certainly be thinking about his director loan.. hoping he will never see that again.

All he had to do is to enable PREM to manage the project, employe a suitable contractor and write a contract which had clear penalties for failures.

About time GR understood shareholders not happy but all it's going to do is drop the share price even more because GR doesn't have any other avenues to try.

Will be to force his resignation

Not a chance... If trading would be suspended do you really think they George would call it.

If trading was suspended how would he be able to do do his placing !!!

I am assuming it's done on a per contract basis..

Wolf - let's take an example of a 3rd party in PREM's data room, showing an interest in the company.

Shortly that company would be able to take part in a cost effective method of buying up a large portion of PREM shares for a discounted price.

They continue to acquire shares... this possibility is within scope of possibility.

If it brings about cost savings at this rather difficult time then as shareholders we should be in favour as well.

Being charged 5k per day standing time is not exactly helpful in this situation

That in itself would generally trigger a massive sell off... Can George finally deliver an interview which demonstrates he has a handle on Zulu...

MM's happy to take a massive amount of shares in one go.. thats positive I think 🤔

Jaglith if you remember the value that Canmax were happy to sign the ammended offtake agreement then 36 Million would be a steal !!

Prem & Stark have royally screwed this up but Canmax agreed a value on Zulu and to some degree that still stands.

Yes resource material has dropped but it's not as if the final product is required by Canmax clients

I think the returning fact is that Canmax did extensive diligence into the site before signing with Prem.

The value yesterday was in the raw resources and today's is relating to the plant.

If a 3rd Party from China, believes they can make this work and have a similar implementation in Zim then I am sure there are discussions between Canmax and this 3rd party.

That is the next update I think we will receive. That the company has entered into non-binding negotiations.

Canmax will be orchestrating the partners being lined up and GR would have been told, you don't have our support unless you agree to our plans.

Yesterday's release certainly supports that interested parties are still engaged.

George has clearly stated that the primary route to resolve is $50K and the back up option is the higher cost option that puts more risk on the finances.

Therefore George needs to reflect this into the General Meeting and go on record that he will only place new shares based up the lower cost option and the scope for spending the higher amount is currently on hold, this could provide shareholders with some comfort that we wouldn't see the 9.x billion shares immediately placed.

GR will be history if he immediately dilutes the company to the highest available number of shares.

Food for thought George.. this is your last chance.

It's a positive update, yes it's designed to highlight value in the project.

This is the statement I am interested in:

"Certain necessary plant issues are being attended to and will be dealt with in a separate announcement to follow shortly"

BEING ATTENDED TO... Separate Announcement shortly..

Assuming this will come later this week !!

Confidence still showing with the 50 Million buy that has just gone though.

David certainly needs to bring some positive news to the market to stop this decline.

Lots of factors in play and it's painfully obvious the worse case scenario but would David be buying shares himself if he felt the spiral would continue.

Https://www.proactiveinvestors.co.uk/companies/news/1056487/ethernity-networks-advances-1-05m-contract-u-s-aerospace-partner-following-government-approval-1056487.html